IL HB0238 | 2019-2020 | 101st General Assembly

Status

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 9 2019 - 25% progression
Action: 2019-02-07 - To Sales, Amusement & Other Taxes Subcommittee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that, for persons dying on or after January 1, 2020, the exclusion amount shall be the applicable exclusion amount calculated under Section 2010 of the Internal Revenue Code, including any deceased spousal unused exclusion amount (currently, the exclusion amount for Illinois estate tax purposes is $4,000,000). Effective immediately.

Tracking Information

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Title

ESTATE TAX-EXCLUSION AMOUNT

Sponsors


History

DateChamberAction
2019-02-07HouseTo Sales, Amusement & Other Taxes Subcommittee
2019-01-29HouseAssigned to Revenue & Finance Committee
2019-01-09HouseReferred to Rules Committee
2019-01-09HouseFirst Reading
2019-01-07HousePrefiled with Clerk by Rep. Thomas M. Bennett

Code Citations

ChapterArticleSectionCitation TypeStatute Text
354052Amended CodeCitation Text

Illinois State Sources


Bill Comments

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